S.C Inequalities Wealth Flashcards
1
Q
Definition of wealth
A
The stock resources or possessions of a person or household at a fixed point in time
2
Q
What did the Birmingham policy commission report by rowlingson and milieux (2013) find?
A
- wealth affects physical and mental well being
- wealthy people had a greater political influence than poorer people which is a potential threat to democracy
- expresses anxiety at the level of debt accumulated by the poor
- notes the difficulties that young people faced even from middle class families of getting on the property ladder
3
Q
What did Oxfam find (2018)?
A
42 people in the world have the same amount of wealth as half of the world
4
Q
Total wealth fact
A
The total wealth of the top tenth of households in2008-2010 amounted to 850 times as much as the total owned by the bottom 10%
5
Q
Poorest percentage of wealth
A
The poorest 50% of the population have only 10% of the wealth of the UK between them and the poorest 10% have virtually no wealth at all
